Streetbeat News

Earnings

STEP

StepStone Group's shares surged following the announcement of their Q3 financial results, which exceeded market expectations.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 7:08 pm

MWA

Mueller Water Products shares are trading higher following the announcement of their Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 7:06 pm

ENS

Oppenheimer analyst Noah Kaye downgraded EnerSys (NYSE:ENS) to Perform from Outperform and removed the $113 price target due to a Q3 FY24 revenue miss and lower than expected Q4 FY24 guidance. The downgrade follows a reported adjusted EPS of $2.56, above estimates, but sales of $861.50 million fell short of the $898.87 million consensus. EnerSys' guidance for Q4 adjusted EPS is also below estimates. The telecom/broadband slowdown impacted multiple segments, with recovery expected in the second half of 2024.

Portfolio Pulse from Lekha Gupta

February 09, 2024 | 7:05 pm

AI

PLTR

C3.ai, Inc. (NYSE:AI) shares have surged over 15% in the past five days, following Palantir Technologies, Inc.'s (NYSE:PLTR) strong Q4 earnings. C3.ai announced its annual AI conference, C3 Transform 2024, focusing on generative AI's impact on productivity and efficiency across industries. The event aims to showcase enterprise AI innovation and its value. C3.ai's stock has attracted significant attention from short-sellers and retail investors, becoming a top trending ticker. Currently, 41.01% of its shares are sold short. C3.ai's stock price has risen nearly 8% to $28.97.

Portfolio Pulse from Erica Kollmann

February 09, 2024 | 7:00 pm

PFG

Principal Financial Group (NASDAQ:PFG) is scheduled to release its quarterly earnings report on February 12, 2024. Analysts predict an EPS of $1.68. The company's past earnings performance shows a mix of beats and misses, with the share price reacting variably. Shares are currently trading at $77.76, down 15.9% over the last year. Investors are keen on both the earnings outcome and the company's future guidance.

Portfolio Pulse from Benzinga Insights

February 09, 2024 | 7:00 pm

RAMP

LiveRamp Holdings, Inc. (RAMP) shares are trading lower following the announcement of their Q3 financial results and the issuance of Q4 revenue guidance.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 6:54 pm

U

Unity Software (NYSE:U) has seen a significant options trading activity, with a bearish sentiment prevailing among high-rolling investors. Benzinga's options scanner revealed 16 trades, showing a split sentiment with 43% bullish and 56% bearish. The trades target a price range of $20.0 to $42.0 for Unity Software over the next 3 months. The largest trades include both bearish and bullish calls with varying strike prices and expiration dates. Unity Software's current market performance shows a slight increase in stock price, with an RSI indicating a neutral position. The next earnings report is expected in 17 days.

Portfolio Pulse from Benzinga Insights

February 09, 2024 | 6:45 pm

OKTA

Smart money investors have shown a significant interest in Okta (NASDAQ:OKTA) options, with a bearish stance overall. Benzinga's options scanner revealed 19 trades, indicating a split sentiment with 42% bullish and 57% bearish. The trades target a price range of $75.0 to $125.0 for Okta. The largest trades include both bullish calls and a bearish put, with notable volumes and open interests. Okta, a cloud-native security company, has seen its stock price increase by 1.56%, with an upcoming earnings announcement in 19 days.

Portfolio Pulse from Benzinga Insights

February 09, 2024 | 6:45 pm

DIA

ENPH

EXPE

NVDA

QQQ

SPY

The S&P 500 surpassed 5,000 points and the Nasdaq approached 18,000, marking a significant rally driven by optimism in artificial intelligence. NVIDIA Corp. saw a nearly 50% increase in its shares since the year's start, contributing to the 'Magnificent Seven's combined market cap of $13.2 trillion. Bitcoin also saw a notable rise, exceeding $47,000. The SPDR S&P 500 ETF Trust, SPDR Dow Jones Industrial Average, and Invesco QQQ Trust saw varied movements, while sector and industry ETFs like the Technology SPDR Select Sector Fund and VanEck Semiconductor ETF experienced gains. Companies such as Enphase Energy Inc., First Solar Inc., and Cloudfare Inc. saw significant stock movements due to earnings and outlooks, whereas Expedia Group Inc. faced a downturn after a downgrade.

Portfolio Pulse from Piero Cingari

February 09, 2024 | 6:45 pm

GOOG

MCD

SBUX

Starbucks Corporation (NASDAQ:SBUX) reported disappointing first fiscal quarter results, missing both top and bottom-line estimates and lowering its full-year revenue outlook. The company cited misperceptions of McDonald's positioning in the Middle East and the US as a negative impact. McDonald's Corporation (NYSE:MCD) also reported lower-than-expected sales growth, attributing part of the issue to the Middle East conflict. Both companies are pursuing growth strategies, with Starbucks aiming for 55,000 stores by the end of the decade and McDonald's targeting 50,000 locations by 2027. McDonald's partnership with Alphabet (NASDAQ:GOOG) to enhance its restaurant platform with Google Cloud and AI could position it as a future competitor to Starbucks.

Portfolio Pulse from Upwallstreet

February 09, 2024 | 6:37 pm